Philippines and Japan have reaffirmed their joint commitment to steadily implement the government’s flagship infrastructure projects and other initiatives to further strengthen economic cooperation between the two countries.
During the virtual meeting of the Philippines-Japan Joint Committee on Infrastructure Development and Economic Cooperation, Tokyo reaffirmed its commitment to enhance bilateral ties with Manila under the leadership of new Japanese prime minister.
The Philippines, for its part, welcomed the appointment of Prime Minister Yoshihide Suga, and expressed its appreciation of the significant strides made toward the continued economic cooperation and friendship between the two countries under former Prime Minister Shinzo Abe.
This 10th meeting of the high-level committee was held on October 28 via videoconferencing for the first time due to the travel restrictions resulting from the COVID-19 pandemic.
Finance Secretary Carlos G. Dominguez III assured Manila’s commitment to “this long-standing partnership has proved beneficial amidst these trying times.”
“Our cooperation in accelerating infrastructure development will be most critical in the country’s recovery from the adverse effects of the COVID-19 pandemic,” the finance chief said.
Dominguez, who led the Philippine panel in the meeting, said the two sides also discussed programs on accelerating Mindanao’s economic development and peace-building initiatives with a new Bangsamoro autonomous government in place.
Acting Secretary Karl Kendrick Chua of the National Economic and Development Authority (NEDA) co-chaired the Philippine panel, while Hiroto Izumi, the Special Advisor to the Japan Prime Minister, led the Japanese side.
Izumi assured the Philippine officials that under the administration of Suga, Japan’s assistance to President Duterte’s “Build, Build, Build” program and the Mindanao peace process will “remain unchanged.”
The Philippines thanked Japan for its assistance to the country’s COVID-19 response efforts and programs to combat future natural and health-related emergencies during the meeting.
Izumi said that Japan would like to continue to monitor and support the Philippines’ efforts in fighting the COVID-19 pandemic.
Japan said it has already approved JPY3.1 billion in technical assistance for the Cebu-Mactan Bridge (4th Bridge) and Coastal Road Construction Project, the Master Plan for Subic Bay, the Parañaque Spillway, and the Cagayan de Oro-Malaybay Section of the Central Mindanao Highway project.
Both the Philippines and Japan also committed to work towards the signing of the agreement on the second tranche loan for the Metro Manila Subway Project (Phase 1) in the first quarter of 2021.
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Article and Photo originally posted by Manila Bulletin last November 2, 2020 6:00am and written by Chino S. Leyco.
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